Juniper Investment Company, LLC 4

4 · LINCOLN EDUCATIONAL SERVICES CORP · Filed Jun 5, 2026

AI-generated summary of this filing

Updated Jun 5, 2026

Lincoln Educational (LINC) Affiliate Juniper Investment Sells Shares

What Happened

Juniper Investment Company, LLC (an affiliate tied to Lincoln Educational's Chairman John A. Bartholdson) reported sales of Lincoln Educational Services Corp. (LINC) common stock in two open-market transactions. On 2026-06-03 Juniper sold 81,504 shares at an average price reported as $50.10 (proceeds $4,083,383). On 2026-06-04 Juniper sold 25,208 shares at an average price reported as $51.13 (proceeds $1,288,951). Total shares sold: 106,712 for total proceeds of approximately $5,372,334. These were sales (not purchases), which are routine dispositions rather than a direct buy signal.

Key Details

Transaction dates and prices:
- 2026-06-03: 81,504 shares @ $50.10 (reported proceeds $4,083,383). Footnote F1 notes a weighted-average price range of $50.0400–$50.3093.
- 2026-06-04: 25,208 shares @ $51.13 (reported proceeds $1,288,951). Footnote F3 notes a weighted-average price range of $50.6000–$51.2900.
Shares reported after transaction: 1,781,778 shares held by Juniper Targeted Opportunity Fund, L.P. (per footnote F2).
Relationship/beneficial ownership note (F2): Juniper Investment is the investment advisor to the Juniper Fund; John A. Bartholdson and another individual are managing members of Juniper Investment. Mr. Bartholdson shares voting and dispositive power over the Fund’s shares but disclaims beneficial ownership except to the extent of any pecuniary interest.
Filing timeliness: Form 4 filed 2026-06-05 reporting trades on 2026-06-03 and 2026-06-04 (filed within the typical 2-business-day window).

Context

These were open-market sales by an affiliated investment advisor (institutional/affiliate activity), not a direct purchase by a company executive. Sales are common and may reflect portfolio or fund management decisions; they do not necessarily signal management’s view of the company’s prospects.
The filer offers to provide trade details to the issuer or SEC upon request (per footnotes).

Form 4

Period: 2026-06-03

Other

Transactions

Sale
Common Stock, no par value per share
[F1][F2]
2026-06-03$50.10/sh−81,504$4,083,383→ 1,806,986 total(indirect: Juniper Targeted Opportunity Fund, L.P.)
Sale
Common Stock, no par value per share
[F3][F2]
2026-06-04$51.13/sh−25,208$1,288,951→ 1,781,778 total(indirect: Juniper Targeted Opportunity Fund, L.P.)

Footnotes (3)

[F1]Represents the weighted average per share price with a range from $50.0400 and $50.3093. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.
[F2]Represents 1,781,778 shares held by Juniper Targeted Opportunity Fund, L.P. (the "Juniper Fund"), of which Juniper Investment Company, LLC ("Juniper Investment") serves as the investment advisor. John A. Bartholdson, the Chairman of the Board of the Issuer, and another individual serve as the managing members of Juniper Investment. As a result, Mr. Bartholdson shares voting and dispositive power over such shares with the Juniper Fund, Juniper Investment and the other individual. Mr. Bartholdson disclaims beneficial ownership of such shares reflected herein except to the extent of his pecuniary interest therein.
[F3]Represents the weighted average per share price with a range from $50.6000 and $51.2900. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

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